The Clark Company makes a certain product and uses a standard cost system. Some data concerning this product for the month of May are as follows:
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Labor rate variance
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$ 7,000 F
|
|
Labor efficiency variance
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$12,000 F
|
|
Variable overhead efficiency variance
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$ 4,000 F
|
|
Number of units of finished products made
|
10,000
|
|
Standard labor rate
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$ 12/direct labor hour
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|
Standard variable overhead rate
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$ 4/direct labor hour
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Actual labor hours used
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14,000
|
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Actual variable overhead costs incurred
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$58,290
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The actual overhead spending variance for May was
The actual direct labor rate for May in dollars per hour was
The total standard cost for direct labor for May was
The total standard cost for variable overhead for May was
The standard hours allowed to make one unit of product are